Country receives $142.70 crore in remittances in 13 days

The country has received $142.70 crore in remittances in the first 13 days of September. In Bangladeshi currency the amount is nearly Tk 17,552 crore 10 lakh, calculated at Tk 123 per dollar. According to Bangladesh Bank data, remittance inflow in the ongoing September has recorded significant growth compared to the same period last year.

Bangladesh Bank spokesperson Arif Hossain Khan confirmed the information on Monday (September 14). As per the central bank’s account, expatriates sent an amount equivalent to Tk 2,373 crore 90 lakh on Sunday (September 13) alone. As a result, remittances in the first 13 days of the month reached $142.70 crore.

In the first 13 days of September last year, the country received $130.60 crore in remittances. On that basis, expatriate income in the same period has increased by nearly 9.30 percent in one year. This means the tendency of expatriates to send money through formal channels has become stronger at the beginning of the current month compared to last year.

A positive trend in remittances is also visible from the start of the current fiscal year. From 1 July to 13 September the country received a total of $725.30 crore in remittances. In the same period of the previous fiscal year the amount was $620.60 crore. Consequently, remittances at this stage of the fiscal year have increased by 16.90 percent in one year.

Earlier in August Bangladesh received $297 crore in remittances, which was 10.82 percent higher than the same month of the previous year. Remittance inflow was also strong in the first two months of the current fiscal year. Combining July and August the country received nearly $582 crore in expatriate income.

According to economists and bankers, this momentum in remittance inflow is being maintained due to comparatively favourable dollar rates in the banking channel and increased opportunities for sending money through formal channels. This continuous growth in expatriate income is also playing a supportive role in maintaining the country’s foreign currency market and overall balance of payments.